Policy | ED questions IREO onFema violations

New Delhi:The Enforcement Directorate (ED) has sought clarifications from India-focused real estate fund IREO for violating various sections of the Foreign Exchange Management Act (Fema), which relates to foreign direct investment. Confirming the news, the company in a statement said, “Some officials from the department of revenue have approached IREO for certain information and clarifications, which are being duly responded to. IREO remains committed to fully cooperate with the authorities, like always.”